By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Tech Insight
  • Digital
  • Software
  • Infrastructure
  • Security
  • Data
  • Cloud
  • Research Center
Reading: Tribe Tech Secures £4.6m in London IPO: Boosting UK’s Capital Market
Tech InsightTech Insight
Font ResizerAa
Search
Have an existing account? Sign In
Follow US
© 2024 Tech Insight, a Talk About Tech brand. All rights Reserved.
Tech Insight > Trending Tech > Artificial Intelligence > Tribe Tech Secures £4.6m in London IPO: Boosting UK’s Capital Market

Tribe Tech Secures £4.6m in London IPO: Boosting UK’s Capital Market

Conal Cram
Conal Cram Artificial Intelligence Drones Robotics Trending Tech
Share
4 Min Read
Tribe Tech Secures £4.6m in London IPO, Boosting UK Market
SHARE

In a move that signifies both technological advancement and a robust step forward for the UK’s capital market, Tribe Tech, the spearhead in autonomous mining equipment, has jubilantly marked its presence on the London Stock Exchange’s Alternative Investment Market (AIM) through its IPO. As the pioneering name behind the much-anticipated autonomous drilling tools, Tribe Tech’s London IPO not only offers a promising look into the future of mining but also rejuvenates the capital market landscape of the UK.

Contents
Key Details from the IPOStock PerformanceTribe Tech CEO’s VoiceOperational FootprintHistorical FundingsA Broader ContextThe Future of Mining is Bright and Autonomous…

Key Details from the IPO

  • Ticker and Capital: With its listing under the ticker “TRYB”, Tribe Tech celebrated a market capitalization of £22.2m and successfully garnered £4.59m in gross proceeds, surpassing its initial aspiration to raise £0.4m.
  • Utilization of Funds: Intent on spearheading innovations, the company is determined to employ the IPO proceeds for the development of its cutting-edge automated drilling apparatuses, featuring an autonomous sampling system and a pioneering drill rig.
  • Company Vision: Born in 2019 out of a vision to revolutionize mining, Tribe Tech, with its forward-looking approach, aims to roll out its first autonomous drill rig by the culmination of 2023. Impressively, the firm’s order books already boast figures exceeding £10.5m for its avant-garde mining technology offerings.

Stock Performance

In the aftermath of this momentous IPO, Tribe Tech’s shares witnessed a slight dip, dropping nearly 9% by the subsequent Wednesday.


Tribe Tech CEO’s Voice

Charlie King, the stalwart CEO and founder of Tribe Tech, articulated his sentiments about the IPO and the chosen market. “We believe that AIM is a natural fit for Tribe Tech, with its international investor base and proven track record for helping technology companies achieve their growth ambitions,” he said, reiterating the company’s commitment to driving innovation in the mining tech space.


Operational Footprint

Operating from its nerve center in Mallusk, Northern Ireland, Tribe Tech also spreads its expertise to the terrains of Western Australia.

“Our technology is the solution to the reverse circulation drill rig market for improving efficiency and safety in the rapidly changing world,” – King emphasized.


Historical Fundings

The company, no stranger to investments, had earlier this May raised an impressive sum of £2m. This was facilitated by a consortium of high-caliber tech investment players, most notably Vela Technologies.


A Broader Context

Tribe Tech’s London IPO injects a much-needed dynamism into London’s public markets, which had of late been feeling the pinch of a wane, given the tough economic winds. The trend has seen giants like Arm, a Cambridge-based chip maestro, opting for New York over London, raising eyebrows and prompting others like fintech maven Zilch to reevaluate their market options.


The Future of Mining is Bright and Autonomous…

Tribe Tech’s notable entry into the London Stock Market paints a hopeful picture for both mining technology enthusiasts and market watchers. Their ambition, paired with their proven expertise, paves the way for a brighter, more efficient, and safer future in mining. We invite our readers to share their insights, thoughts, and forecasts in the comments below. How do you see the trajectory of autonomous mining shaping up?

Check out our homepage for the latest and greatest Tech Insight.

Sign Up For Our Newsletter

Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Twitter LinkedIn Reddit Email Copy Link
By Conal Cram
Follow:
Conal is a seasoned tech industry professional and content writer for numerous tech publications. With a strong background in software engineering and digital media development, he's passionate about sharing the latest updates and insights in the tech industry, particularly in artificial intelligence and other disruptive trends. In his spare time he loves a mezze platter and a good film, and if he's not playing Fortnite or spending time with his daughter you can assume he's at the dry slopes!
Previous Article ARM Eyes a Whopping £43bn Valuation for Its Upcoming IPO ARM’s Whopping IPO Valuation: All You Need to Know
Next Article Apple iPhone 15 Apple iPhone 15 – Release Date, Price, Features, and More
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Aligned Data Centers Initiates Hyperscale Campus in Northeast Ohio: A Leap Towards Sustainable Tech Infrastructures

Conal Cram 3 Min Read
Qualcomm Chips to Power BMW and Mercedes Infotainment

Qualcomm Chips to Power BMW and Mercedes Infotainment: What it Means for the Auto and Tech Industries

Conal Cram 3 Min Read

AMD Touts MI300X as the Fastest AI Hardware Globally

Conal Cram 3 Min Read
AIOps: 93% of CIOs Overwhelmed by AI Data

93% of CIOs Overwhelmed by AI Data, Urging Advanced AIOps Adoption

Conal Cram 4 Min Read

From our research center

KnowBe4 Africa (Pty) Ltd

10 Questions Every CISO Should Ask About AI-Powered Human Risk Management Tools

AI is transforming security awareness—but how much is marketing hype versus genuine value for your organisation? Human risk management (HRM) and security awareness vendors of...

Read content
  • About us
  • Contact us
  • Research Center
  • Disclaimer
  • Privacy
  • Terms & Conditions

We Are Tech Insight

We have been delivering breaking news from the tech world since 2017. Our goal is to help you stay up-to-date with the latest developments, trends, and breakthroughs in the tech world.

Our website stores cookies on your computer. They allow us to remember you and help personalize your experience with our site..

Read our privacy policy for more information.

© 2025 Tech Insight, a Talk About Tech brand. All rights Reserved.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?